Sportshow...the market mightn't be getting excited but I am because these are the FACTS (and let's only deal with Renison because it is now up and running):
Production
Metals X forecasts that Renison’s total production of tin in concentrate will be 8,500 tonnes in financial year 2008/2009, rising to a temporary peak of 10,580 tonnes in 2009/2010.
Costs
Initial cash operating costs net of copper by product credits are estimated at AUD 8,400 per tonne.
Surplus
At today's price of US$20,950 or AUD$24,008 (okay, let's forget the $8, we can afford to be generous!).....that's a healthy AUD$15,600 to cover admin costs, additional costs of infrastructure and development and PROFIT.
On 8,500 tonnes expected in 08/09 that's a massive revenue base of $204m and a surplus after operating costs of $132.6m
Mind you, it would be great if Peter Cook could give us an update on the progress at Renison as certain investment sectors are sceptical given Renisons recent history of open-shut-open.
MLX Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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(20min delay)